Though India’s RMG shipment to USA falls
33.28% in YTD, it grows 87.93% in July ’20 over June ’20
The dispute between USA and China is not allowing the trade
to normalise between these two countries, while the gradual
normalisation can be seen in the manufacturing and trade
activities of India, Bangladesh and Vietnam.
As OTEXA released July ’20 import data of USA, the data
shows India managed to increase its share in the US market
following months of lockdown to attain gradual normalcy. The
country, however, fell by 33.28 per cent on Y-o-Y basis in
January-July ’20 period to ship US $ 1.75 billion worth of
garments to USA, but it increased by 87.93 per cent over
June ’20 to ship US $ 213.21 million worth of garments in
its largest exporting destination.
China’s shipment of apparels to USA in year-to-date valued
US $ 7.35 billion, which is 49.34 per cent lower than
January-July ’19 period. The monthly surge is certainly
there as it grew 37.39 per cent in July ’20 over June ’20 to
value US $ 1.58 billion. On Y-o-Y basis, the shipment from
China saw a decline of 50 per cent in July ’20 as USA
imported US $ 3.17 billion worth of garments in July ’19
The second largest apparel exporter to USA – Vietnam – saw a
decline of 11.06 per cent in January-July ’20 period and
shipment was worth US $ 6.94 billion as against US $ 7.80
billion in the same period of 2019.
In July ’20, there was a fall of 11 per cent in US apparel
import from Vietnam over July ’19 and it valued at US $ 1.29
billion. However, as compared to June ’20, Vietnam’s
shipment increased by 51.76 per cent.
As far as Bangladesh is concerned, USA imported US $ 2.90
billion worth of garments, noting 18.54 per cent Y-o-Y fall.
Particularly in July ’20, USA’s import from Bangladesh stood
at US $ 436.34 million with a significant monthly growth of
52.74 per cent over June ’20.
Following disruptions caused by COVID-19, Bangladesh also
couldn’t go against the wind and fell on Y-o-Y basis by 11
per cent in July ’20 over July ’19.
Further to this, only three countries managed to see yearly
growth in July ’20 over July ’19 as well as in January-July
’20 period. Stay
connected as the next data story will talk about these three